Wealth is what we all try to achieve .....

Wealth is what we all try to achieve in our life and to earn it, we need to do a lot of things and need efforts for someone to be wealthy enough. You are not going to be wealthy by sitting and thinking to be rich even though Donald Trump said that we need to think BIG. But it does not mean think big that we just sit and do nothing other than think, think and think again.

Just about 2 or 3 days back, I am reading the important factors that make people wealthy from www.freemoneyfinance.com , from that article, it said that two major factors in order for someone to become wealthy are habitual saving and sound investing.

Habitual saving. Make it habit, obviously from the word itself you can know. You need to learn saving since you were born and it also never too late for anyone to start saving. What you have to do is have your own determination or will power towards the saving habit. “Spend less from what you earn”, it is not as easy as being said. You need to have a strong eager towards it and try to control you devil sight of you from the insight of yourself. You will be facing a conflict between your mind and your inner voice many times in your life and this conflict will sometimes cause you to do mistake all the times. 

For example, you already set your mind that this month after cutting down all you expenses, you manage to save RM500, but with the persuasiveness of your environment such as you are attracted to the new i-Phone 4 or maybe new Nike shoe, plus it will become worse when the thing that you want is something that have limitation, something that always we call “limited edition”. At that time, this inner conflict will appear within yourself and at that time, you are the one who can make decision not others. 

The best thing to do is that, in whatever things that you do, try not to mix your emotion and your logic. People fail to act like as what I mentioned because it is hard to do so. Not all of us have that strength and we need something to keep on motivate our self. For me( just for sharing), in order to keep motivate myself, I always listen on www.youtube.com about tips on how to make money or sometime listen to the talks given by Donald Trump or Mr.Buffet as this will motivate me towards my dream. 

Saving will make you become financial freedom more stable even though it is slow but with the compounding effect of 7% of dividend each year from ASB (for bumiputera) and for others investment (for non bumi), you will see the increases of your money as time pass. You can start by saving maybe 10% of your monthly income and then increase the amount according to your ability of saving per month.

Sound Investing. Take your money and put it into any company or buying fund, stocks and shares, make money work for you. With this method you will be free at any time and you do not have to work for someone else anymore. The only thing you can do is find a good place to invest and watch your cash grow from time to time, and your face will be smile all the time. People love to invest, but they just don’t know where to invest.

A lot of us here love to hear on rumours and ideas or suggestion from people. Why not we our self, try to study and get to know some places that we think is a good place for our money to be taking care of. Of course with a little bit advice from the experienced ones, but what I am trying to say here is, don’t rely too much on people until we don’t even care of what is happening. Try to get involve and know something because at the end of the day, no one will responsible for what happened to you. You are the one who will take the blame of what had happen. 

Investing also include by starting a good business, it doesn’t matter either it is a small or big business. But the effects are the same, either in business or investment, you might be facing the fact that you might lost some money. There are no 100% or always good returns in both deals. The only thing you need for business and investment is the right strategies. If you have and know how to ‘play’ with it, than you is the winner.

So, for people out there who have some tips, you are welcome to share it here.